BTC Digital Ltd. (NASDAQ:BTCT) Short Interest Down 32.1% in March

BTC Digital Ltd. (NASDAQ:BTCT) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 384,200 shares, a decline of 32.1% from the March 15th total of 566,000 shares. Based on an average daily volume of 2,020,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 8.8% of the shares of the company are sold short.

BTC Digital Stock Performance

Shares of BTCT traded up $0.08 during mid-day trading on Friday, reaching $3.41. 31,030 shares of the company’s stock traded hands, compared to its average volume of 1,539,117. The business’s 50-day moving average price is $4.16 and its 200-day moving average price is $5.74. BTC Digital has a 12 month low of $1.32 and a 12 month high of $26.58.

Institutional Trading of BTC Digital

Hedge funds have recently added to or reduced their stakes in the business. Two Sigma Investments LP acquired a new position in shares of BTC Digital during the fourth quarter valued at $59,000. Renaissance Technologies LLC acquired a new position in BTC Digital during the 4th quarter valued at about $975,000. Finally, Invesco Ltd. acquired a new stake in shares of BTC Digital in the 4th quarter worth approximately $113,000. Institutional investors own 7.32% of the company’s stock.

BTC Digital Company Profile

BTC Digital Ltd. a crypto asset technology company engages in bitcoin mining business. It is also involved in mining machines resale and rental business. The company was formerly known as Meten Holding Group Ltd. and changed its name to BTC Digital Ltd. in August 2023. The company was founded in 2006 and is headquartered in Shenzhen, China.